Business

Can This Man Bring Silicon Valley To Yangon?

Robert Smith — Fri, 24 May 2013 06:54:00 +0000

Like a proud father, Nay Aung opens up his MacBook Air to show me the Myanamar travel website he's built. But we wait 30 seconds for the site to load, and nothing happens.

"Today is a particularly bad day for Internet," he says. This is life in Myanmar today: Even an Internet entrepreneur can't always get online.

This 9-Year-Old Girl Told McDonald's CEO: Stop Tricking Kids

Maria Godoy — Thu, 23 May 2013 20:47:00 +0000

It's not every day that a 9-year-old girl chastises the CEO of one of the world's biggest fast-food chains.

Yet that's exactly what young Hannah Robertson did Thursday morning at McDonald's annual shareholders meeting in Chicago. When the meeting opened up to questions, Hannah was first up at the mic with a pointed criticism.

"It would be nice if you stopped trying to trick kids into wanting to eat your food all the time," she told McDonald's CEO Don Thompson.

Ouch.

Hannah, a native of Kelowna, British Columbia, didn't get to Chicago on her own, of course.

Being Blind To Financial Need: Is It Worth It?

editor — Thu, 23 May 2013 15:32:00 +0000

Millions of students rely on loans and grants for their studies. But with universities strapped for cash, fewer schools are able to admit students regardless of their financial need. Host Michel Martin asks the President of Iowa's Grinnell College, Dr. Raynard Kington, why his school considered putting a halt to need-blind admissions.

Production Of New Vehicles Predicted To Hit 2002 Levels

Bill Chappell — Thu, 23 May 2013 15:15:00 +0000

Strong new-vehicle sales figures are causing industry analysts to revise their forecasts for North American production levels in 2013, with J.D. Power & Associates and LMC Automotive predicting 16 million units will be produced — a mark not hit since 2002.

More than 1,157,000 new vehicles are projected to be sold in May, the third month in a row to top the 1 million level. The growth is being helped by strong demand for full-sized pickups, which represent more than 11 percent of retail sales, according to a news release from J.D.

Jobless Claims Drop, But Stay In Recent Range

Mark Memmott — Thu, 23 May 2013 13:02:00 +0000

There were 340,000 first-time claims for unemployment insurance last week, down 23,000 from the week before, the Employment and Training Administration reports.

The decline follows something of a spike. But in reality, the drop just means that claims continue to run at the pace they've been setting since late 2011.

When Will Fed Officials Ease Off The Accelerator?

John Ydstie — Thu, 23 May 2013 08:48:00 +0000

Transcript

DAVID GREENE, HOST:

NPR's business news starts with some of the shine off the stock market.

(SOUNDBITE OF MUSIC)

GREENE: OK, after a big run up in prices, global stock markets stumbled today. Japan's Nikkei dropped more than seven percent. European markets are down two to three percent, and here in the United States the Dow and S&P averages are both down less than one percent. One reason for all this investors selling analysts say, is new indications from the U.S. Federal Reserve and Fed Chief Ben Bernanke about a pull back in quantitative easing.

Goldman Sachs Is Doing Well, So Is Its CEO Lloyd Blankfein

editor — Thu, 23 May 2013 08:46:00 +0000

Big bank Goldman Sachs holds its annual shareholder meeting Thursday. Five years ago, during the financial crisis, Goldman's CEO Lloyd Blankfein was a poster boy for overpaid executives. To find out how much he is making now, Renee Montagne talks Neil Weinberg, editor in chief of American Banker.

IRS Official's Silence Riles House Committee Members

Peter Overby — Thu, 23 May 2013 08:38:00 +0000

Transcript

RENEE MONTAGNE, HOST:

The IRS has admitted to targeting conservative groups seeking tax exempt status. And yesterday at a House hearing the IRS director of exempt organizations said, quote: "I have not done anything wrong." She then declined to testify.

The Last Word In Business

editor — Thu, 23 May 2013 08:38:00 +0000

Venezuela is rich in oil, but relies on imports for many basic goods — including toothpaste, soap and toilet paper. For weeks now the country has had a chronic toilet paper shortage. Lawmakers voted to approve a $79 million credit to the government to resolve the issue.

College Students Eye Calendar, Wait To See If Loan Rates Double

Claudio Sanchez — Thu, 23 May 2013 08:38:00 +0000

College students could end up paying a higher interest rate on their government subsidized loans unless Congress steps in. In a replay of last year's battle, Republicans, Democrats and the Obama administration all have competing proposals. A vote is scheduled in the House of Representatives Thursday, but with no consensus in sight, it's not at all clear if lawmakers can keep interest rates from doubling on July 1.

Business News

editor — Thu, 23 May 2013 08:38:00 +0000

Three years ago President Obama's green energy loan program gave a $455 million federal loan to electric car maker Tesla. Critics bashed the loan as risky. On Wednesday, Tesla announced it had paid that loan back in full – and early.

Bernanke: Economy Still Too Shaky To End Low Interest Rates

John Ydstie — Wed, 22 May 2013 21:20:00 +0000

Transcript

ROBERT SIEGEL, HOST:

You're listening to ALL THINGS CONSIDERED from NPR News.

For those who closely follow decisions made by the Federal Reserve, today's marquee event was the testimony of Fed Chairman Ben Bernanke. He appeared on Capitol Hill before the Joint Economic Committee of Congress. And some lawmakers asked Bernanke about concerns of chaos in the financial markets once the Fed stops pumping money into the economy.

Go East, Young Marijuana Dealer

editor — Wed, 22 May 2013 21:20:00 +0000

Chuck used to sell marijuana in California. But the legalization of medical marijuana in the state meant he was suddenly competing against hundreds of marijuana dispensaries. So he moved to New York, where marijuana is still 100 percent illegal. Since making the move, he says, he's quadrupled his income. (For the record: His name isn't really Chuck.)

He spends pretty much every day dealing what he calls "farm-to-table" marijuana.

Bernanke Hints That The Economy Still Needs Help

Mark Memmott — Wed, 22 May 2013 15:37:00 +0000

In the nearly impenetrable language that comes with his job, Federal Reserve Chairman Ben Bernanke told Congress on Wednesday that even though the economy is doing better, the central bank needs to keep giving it a boost.

The key passage from his prepared testimony:

"Recognizing the drawbacks of persistently low rates, the FOMC actively seeks economic conditions consistent with sustainably higher interest rates.

Qantas Airlines To Offer In-Flight Books

editor — Wed, 22 May 2013 11:12:00 +0000

Transcript

DAVID GREENE, HOST:

And our last word in business on this Wednesday is: Mile High Book Club.

LINDA WERTHEIMER, HOST:

We're talking about an in-flight library offered by the Australian airline Qantas.

GREENE: They will still have movies on the plane, that right, Linda?

WERTHEIMER: Yes, David.